Which of the following is a fiduciary duty owed by a Colorado buyer's agent to the buyer?
Why Confidentiality of the buyer's personal financial information Is Correct
Answer C: Confidentiality of the buyer's personal financial information
Exam Tip: Agency
Agency questions are among the most tested on the exam. Focus on the difference between client and customer, and memorize the fiduciary duties (OLD CAR). Watch for questions that try to blur the line between a general agent and a special agent.
Key Agency Terms in This Question
People Also Study
Related Colorado Questions
- A Colorado broker working as a transaction broker receives confidential information from the buyer about their maximum purchase price. The broker may:Agency
- In Colorado, the 'duty of confidentiality' owed by a buyer's agent means:Agency
- A Colorado buyer's agent has a fiduciary duty of loyalty, which means the agent must:Agency
- Which of the following is NOT a duty owed by a Colorado transaction broker?Agency
- A Colorado property manager's primary fiduciary duty is to:Property Management
- A Colorado broker is required to disclose their license status to the parties in a transaction:Colorado License Law
- A Colorado investment property sold for $850,000. The original purchase price was $600,000. The owner's capital gains tax rate is 20%. Assuming a $150,000 gain after deducting improvements and depreciation recapture, what is the capital gains tax owed?Real Estate Math
- In Colorado, a real estate closing 'settlement agent' has a fiduciary duty to:Escrow & Title
Key Terms to Know
The highest legal duty an agent owes to a principal — requiring the agent to act in the principal's best interest above all others.
Buyer's AgentA real estate licensee who represents the buyer's interests in a transaction, owing fiduciary duties to the buyer.
AgencyA legal relationship in which a licensee (agent) acts on behalf of a principal (buyer or seller) in a real estate transaction.
Dual AgencyA situation where a single real estate agent or brokerage represents both the buyer and the seller in the same transaction.
Study This Topic
Practice More Colorado Real Estate Questions
1,400+ questions covering all exam topics. Start free — no signup required.
Take the Free Colorado Quiz →